The Internet has come a long way when it comes to online security, but still, even in 2020, there are some ground rules you need to follow to stay safe online. Especially when it concerns financial platforms and everything that has to do with money.
That’s why you need this crash course into Internet financial safety: OctaFX edition.
Scenario #1: Give me some money, and I will give you back more.
You can see this type of fraud all over social media. People might make posts, leave comments or contact you directly, guaranteeing quite a significant amount of money in exchange for your initial investment.
“Give me $100, and I will make it into $10,000 for you in a week!”
This idea can be very tempting, but those offers mean that people are trying to scam you. There is no such thing as easy money, and all that those people want is for you to transfer them your money, and then they disappear never to come back.
Most of those people prefer using Facebook, Telegram, WhatsApp or any other type of social media where it’s easy to fake a profile of a seemingly trustworthy person.
Please, make sure you don’t send anything to those people, be it money or your personal data.
Scenario #2: I will trade on your behalf
Sometimes people can try and convince you that they can trade on your behalf. They claim to be experienced traders, account managers, or people with exceptional trading strategies, but it’s one more trick to get your money.
These people will try and convince you to give them access to your account or get personal information from you in order to create an account in your name. None of these would be wise from the point of safety and the rules of our service.
According to OctaFX’s policies, only the owner of the account can trade, deposit, or withdraw funds.
13.1. The Client may deposit funds into the Trading Account at any time. All payments to the Company shall be made in accordance with the Payment Instructions set forth at the Company’s Website. Under no circumstances will third party or anonymous payments be accepted.
21.4. The Client agrees to keep secret and not to disclose any Access Data to any third party.
Moreover, by giving your credentials to another person, you expose your personal data which may later cause you troubles. You wouldn’t want another person to have your documents, e-mails, passwords, or anything that protects your identity.
In case you would like to profit off someone else’s trading, there is a perfectly safe way to do so. Consider using the OctaFX Copytrading service that allows you to copy the deals of Master traders and keep all your personal information safe.
Scenario #3: Trust me, I’m an IB
It might seem hard to recognise a real IB among all the people who can message you on social media. They might offer you help with your trading, convince you to join their groups, but their main goal is to obtain your money or your personal information. So how do you know if it’s a real person or someone trying to scam you?
There is a trick to find out if you are talking to a verified OctaFX affiliate, or as we also call them Introducing Broker:
Ask for their referral link. All our IBs have one
Contact our support via email, chat, or social media, and confirm the link with them.
This link will allow the support specialists to identify the IB and let you know whether we work with this person.
This might take some of your time, but it’s important to make sure that you deal with real professionals. You can never be too cautious!
Scenario #4: A sketchy website
It’s essential to recognise that the website you use really belongs to OctaFX. Is it safe to enter your credentials? Is it a real website?
Here’s how you can check:
Make sure that the website is SSL protected. You can check it by clicking a little lock sign in the address bar of your browser.
Contact support via e-mail, call, chat, or social media. Does this website link all those resources? Does it provide support via several channels? Check those points thoroughly.
Remember, not only is it dangerous to trust strangers with your money and personal information, in many cases, it also violates the rules of the broker.
ECN/STP brokers act as an intermediary between you and the Forex market. Never will they interfere in your financial transactions or your trading process, at least here at OctaFX this would never happen.
If you see any suspicious social media profiles that pretend to be OctaFX, you can block and report them to prevent people from falling for their schemes. And you can always contact us, and we will take care of imposters.
Let’s make it a safer space for all traders!